Finding Financial Success in Uncertain Times
New online course available from MSU Extension
The Desire 2 Learn (D2L) course “Finding Financial Success in Uncertain Times” is designed to help producers identify the uncertainties that exist within the farm business and how to achieve financial success through planning for and reacting to that uncertainty. The course provides a roadmap for the journey ahead and helpful information will be available at several stops along the way.
One of the stops will include gaining an understanding of the importance of farm records in decision-making. Without good records, management decisions are made while viewing only a small part of the whole picture, which can limit the opportunities for success.
Participants will also learn about how to find the farm's cost of production. This will provide a meaningful way for farm managers to make well-informed decisions. Cost of production will lead into a review of break-evens and their connection to marketing strategies which can be useful for several types of decisions, especially marketing.
Lastly, participants will discover how the farm's marketing strategy can be refined with insurance programs. For many farms, this means utilizing features they already pay for with their insurance, but rarely use in the decision-making process.
To register for this course, please visit the course registration page: https://www.canr.msu.edu/courses/financial-success-in-uncertain-times